Turning a modest upfront investment in XRP into life-changing wealth is harder than it sounds. The formerly high-flying cryptocurrency XRP (XRP 3.82%) is down a head-spinning 60% over the past six months. That might not sound like the type of investment that could set you up for life. However, there are plenty of catalysts that could send XRP higher over the next few years.
So is now the time to take a contrarian view of XRP, when it’s trading for a bargain-basement price of just $1.45? Let’s say, purely for the sake of argument, that the goal is to transform a modest upfront investment in XRP into $1.5 million. According to many people, that’s approximately how much you would need to save for retirement in order to live comfortably. That’s actually harder than it sounds.
Just do the math. In order to turn $1,000 into $1.5 million, investors would need to see a 1500x return on their investment. Even if you are willing to up the ante and invest $10,000 into XRP, you would need to see a 150x return on your investment. That has me thinking that even 10x upside for XRP might be asking too much.
Leave a Reply